GLOBAL SUB-PRIME CRISIS

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BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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Subscribe to this list via RSS Blog posts tagged in maladministration of a loan
eldiablo here thank you for reading my blog story in response to which bank WESTPAC the one and only have created this maladministration debark-le it is only if we all stand together that our voice will be heard. if it was once said that the meek will inherit the earth then i for don't mind being meek and stopping this crime against us all we shall be heard we shall create a diference we shall have all this wrong doing reversed and the banks have to in the very least take the hit for the loans  it not not like they didn't profit from us all in taking our money and lively hoods now its time for their compassion to be shown and secure our future for once and all so we can live out our final years without this debt, pain and suffering. So i say to all the banks...
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  • setup
    setup says #
    Yep, lets all encourage each other and make a tonne of noise so we can grow bigger and more powerful. We all know we have not comm
  • setup
    setup says #
    Sorry 25th August...
  • Rob
    Rob says #
    One in all in! lets all get behind this effort, Rome wasn't built in a day but it is still hear today. So come on all you sand bag
  • setup
    setup says #
    That's exactly right Rivers, which is why we have to persevere in putting pressure on the Politicians to bring banking back to how
  • RIVERS
    RIVERS says #
    We were brought up to respect banks and the kindly bank manager. How things have changed! We now consider them to be the enemy, on
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  29 Jun 2012 - Good reading and video at: http://barnabyisright.com/2011/06/29/rba-says-our-banks-are-stuffed-in-other-words/#comments   Yesterday, RBA Assistant Governor Guy Debelle indulged in some MOPE.   Management Of Perceptions Economics.   Lies, deceit, and propaganda, in other words.   But for those with an ear to hear, and an inclination to check the “authorities’” claims, what he really did – unintentionally – was to give us a heads up.   That our Too Big To Fail banks (TBTF) are going to get bailed out, sooner rather than later.   Go grab a modest quantity of your favourite beverage, and settle in.  You are about to learn – in detail – why we cannot trust a word the banksters say.   Ready?   Now as expected, the mainstream press all lazily parrotted the “everything’s fine, move along, nothing to see here” headline that Mr Debelle wanted. Here’s a good example, from the nations’ “premier” newspaper:...
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  • doyla66
    doyla66 says #
    "why is the Australian taxpayer on the hook to backstop the banks?.." Why not change this scenario around in favour of the tax p
  • doyla66
    doyla66 says #
    Lisa, 'you're a woman after my own heart', but would you be employable to the press? Hmm, let me think......computer says, "no" r
  • doyla66
    doyla66 says #
    A big read Lisa. Keep them coming.
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Comment: Australian's put their lives and everything they value at risk everytime they deal with an Australian Bank or the Australian legal profession. Both are a disgrace "with notable execeptions". It is like Russian Roulette. The risks are too high, according to those whose eyes have been opened to the truth about Australian banking culture. Our politicians, once again, "with notable exceptions" should also be ashamed of themselves. Not only did they not want to listen, not want to act but they systematically attempted to gag our political representatives who wanted to raise such issues in parliament. Those who participated in this disgusting conduct are a total disgrace. We will name and shame them if this conduct EVER happens again in OUR Houses of Parliament. Stay away from the Australian Banking and Financial Sector until a committed and thorough investigation followed by a total overhaul of the regulatory systems and a...
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  • doyla66
    doyla66 says #
    "The legal professional has no such excuse, having seen the whites of the eyes of parties to unequal exchange."
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Media Release: 24 August 2012How many Low Doc Loans are unethical?Attempts to deflect a Royal Commission into Australia's mortgage finance sector by the Mortgage and Finance Association of Australia are mistaken, hollow and shrill, the Australian Democrats said today.MFAA CEO Phil Naylor rejected the Royal Commission call and claims there is very limited evidence of fraudulent dealings by brokers in a 17 August statement that only came to light yesterday. ED:  Yes Naylor would say that...but he has yet to call me.....but like the banks who did not ring the borrowers to ask income details because they deliberately did not want to know yet continued to deny evidence!"I don't know whether to be appalled or bemused by Mr Naylor's caricature of my remarks," Democrats Housing spokesperson David Collyer said today. "He has me saying all sorts of things.""The evidence put before the Senate inquiry by Denise Brailey of the Banking and Finance Consumers...
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  • doyla66
    doyla66 says #
    One thing is for sure, Great Loans vary from Great Lenders. Anyway, thank you for sharing such a GREAT information here. Been find
  • doyla66
    doyla66 says #
    APRA invited to test BFCSA(inc)member assertions ASAP(ie:immediately) as precursor to ROYAL COMMISSION!!!
  • doyla66
    doyla66 says #
    I agree, David Collyer is very clear about his position on this. He really gets the total picture, the politics of truth and so ra
  • doyla66
    doyla66 says #
    A great piece of work Lisa. I think it's time to draft an email to Mr Collyer & thank him for his supportive stance.
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For advice I will be referring others to this website to join, (BFCSA).   Also we are using our resourceful teenagers and placing like a type of ad on U- tube, tumblr etc encouraging people to join this website (BFCSA) and I am going to start bombarding twitter etc with ad's to join this website too.. This is only the start - have a few more plans in place. Hopefully this will also help bring round a Royal Commission that is desperatley needed.. Also another idea floating around is to put sign post in your front yard advertising BFCSA website. I live on a busy street so I am going to trial it (with a few other friends) to see how it will go. The biggest feedback I get from people when banks start moving in and bullying is that they don't know where to go.. So hopefully my efforts will...
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  • doyla66
    doyla66 says #
    What an awesome idea Truth Exposed. I already have contacts with those organisations in the capacity of my current employment. Nev
  • doyla66
    doyla66 says #
    Good food for thought. Maybe we should get the word out about Denise to the Salvation Army, Smith Family etc as they are supportin
  • doyla66
    doyla66 says #
    Great ideas!!!!! Good luck and hopefully some more people who are aware of BFCSA who may be able to help them fight the banks. The
  • doyla66
    doyla66 says #
    Hi JJ - I'm thinking banks or Aussie businesses behaving badly or similar ... are you just doing banks? or bullying by other busin
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By Philip Soos  Tuesday, 21 August 2012 The level of sub-prime mortgages in Australia may be far in advance of what was previously assumed and provided for by banks. The story was broken on the ABC, and covered elsewhere. The revelations centred around two personalities: Kate Thompson and Denise Brailey. Kate Thompson was a licensed mortgage broker at Mortgage Miracles in Western Australia. A highly regarded and award-winning broker, Thompson disbursed a veritable torrent of credit from bank and non-banking lenders to clients wanting funds to buy property, making around $5 million a year from upfront and trailing commissions. She is now facing fraud charges for what amounts to predatory lending: providing credit to people with little to no expectation they will be able to repay the entirety of the loan. This fraud was achieved by fudging the income and assets of clients, making them appear much wealthier on paper than was...
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From MORTGAGE MIX - Thankyou to Tim Neary for this good article on the Royal Commission and Lo Doc Sub Prime Debate.    17 Aug 2012 Macrobusiness published an interesting article recently suggesting Australia’s claim to having a conservative (and safe) banking sector have ‘taken a bath’ recently, as evidence emerges of our own low doc driven sub-prime lending scandal.A video link from the article suggests in the run up to the GFC, Australian banks and other home-grown lenders abused the system of low doc loans; designed for small businesses but sold “by the thousands” to pensioners, single mums and people on welfare.It might sound shocking, but opinion on the subject is firmly divided.In response to the subprime scandal reference one reader left this pointed comment: “Sub-prime???? Pffffffft you guys are so 2007…”One of the industry’s leading low doc aficionados, Pepper’s Mario Rehayem, is also thumbing his nose at the notion. He has been ever...
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  • doyla66
    doyla66 says #
    Re; las laf: "claw back" provisions? some form of undertaking the loan book is purportedly "clean"??? Back room deals going on her
  • doyla66
    doyla66 says #
    EXACTLY Last-Laf "Loans prior to 2008 that were often 'fixed' by brokers and other agents, through the commission of forgery on th
  • doyla66
    doyla66 says #
    Regarding the book, 'Inside Job', Matt Damon made it into an excellent documentary as well, if people are interested. Some of the
  • doyla66
    doyla66 says #
    It's interesting to hear that Pepper's chap has thumbed his nose at the problem in consideration of the fact that his company purc
  • Denise
    Denise says #
    The "Inside Job" was a book which had a great impact on my in 1993 re white collar crime and the Savings and Loans Scandal in Amer
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Posted by on in COURTS & LEGALS
  by: Andrew Burrell From: The Australian August 18, 2012 12:00AM   A GROUP of 20 banks, including Commonwealth Bank, National Australia Bank and Westpac, has been ordered to pay up to $3 billion after failing to overturn a landmark court ruling that they seized assets from Alan Bond's collapsing Bell Group in 1990. The West Australian Court of Appeal yesterday upheld a 2008 ruling that the banking syndicate must repay Bell Group creditors, in the latest chapter of Australia's most expensive and longest-running litigation. The appeal backfired on the financiers when two of the three Court of Appeal judges found the trial judge, Neville Owen, had under-calculated the amount the banks should hand over, finding he had used a "deflated multiplier" in assessing compound interest. Acting judges Malcolm Lee, Christopher Carr and Douglas Drummond, who all came out of retirement to hear the appeal, handed down their ruling after a...
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  • doyla66
    doyla66 says #
    I had to use the calculator to divide $3,000,000,000.00 by 20! It means each of the 20 will have to come up with $150,000,000.00 i
  • doyla66
    doyla66 says #
    Wonderful! lol - still laughing ... That would be the ethical BFO and Rothschild sponsored magician's hat with the green organic m
  • doyla66
    doyla66 says #
    The reality is that if they share that cost amongst them, you're right, it's a drop in the ocean. Being the kind of businesses tha
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